yes, you will lose all your information , this is inevitable so you may suck it up I'm sorry to say.
here is the process for restore through iTunes which you will need to have downloaded onto your pc/mac/laptop
make sure phone has some charge in it , 20% or more ideally
open iTunes on pc/;laptop/mac which you will have previously downloaded
connect iphone to computer usb port via iPhone charging cable.
hold both the top power button and the main round home button on screen together until apple logo appears
LET GO OF ONLY THE POWER BUTTON , KEEP PRESSING HOME
keep holding the home button until the connect to iTunes logo appears.
then follow the prompts which it will say to update and restore.
you may then have to wait for the update to download which can take some time depending on internet connection.
PLEASE NOTE , if during this time while downloading the software, that it reverts back to your original screen , then wait for the download to have finished which should be at top right of your screen , an arrow.
THEN REPEAT earlier process of
hold both the top power button and the main round home button on screen together until apple logo appears, then
LET GO OF ONLY THE POWER BUTTON , KEEP PRESSING HOME
keep holding the home button until the connect to iTunes logo appears.
then just follow the online steps again
this will restore your phone to factory settings.